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Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, The Beachbody Co's Probability of Financial Distress (%) is 0.44%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
For the Internet Content & Information subindustry, The Beachbody Co's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Interactive Media industry and Communication Services sector, The Beachbody Co's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where The Beachbody Co's Probability of Financial Distress (%) falls into.
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
= | -5.43 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
= | 0.44% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
NIMTAAVG | = | Net Income | / | Market Total Assets |
= | Net Income | / | (Market Cap + Total Liabilities) |
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
TLMTA | = | Total Liabilities | / | Market Total Assets |
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
CASHMTA | = | Cash, Cash Equivalents, Marketable Securities | / | Market Total Assets |
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
MB | = | Market Cap | / | Adjusted Book Equity |
= | Market Cap | / | (Total Stockholders Equity + 0.1 * ( Market Cap - Total Stockholders Equity)) |
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
The Beachbody Co (NYSE:BODI) Probability of Financial Distress (%) Explanation
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk in the upcoming year. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Thank you for viewing the detailed overview of The Beachbody Co's Probability of Financial Distress (%) provided by GuruFocus.com. Please click on the following links to see related term pages.
Jonathan Congdon | officer: SEE REMARKS | C/O FOREST ROAD ACQUISITION CORP., 1177 AVENUE OF THE AMERICAS, 5TH FLOOR, NEW YORK NY 10036 |
Mark R Goldston | director, officer: Executive Chairman | C/O UNITED ONLINE, 2555 TOWNSGATE ROAD, WESTLAKE VILLAGE CA 91361 |
Ann Marie Lundy | director | C/O THE BEACHBODY COMPANY, INC., 400 CONTINENTAL BLVD., SUITE 400, EL SEGUNDO CA 90245 |
Carl Daikeler | director, 10 percent owner, officer: SEE REMARKS | C/O FOREST ROAD ACQUISITION CORP., 1177 AVENUE OF THE AMERICAS, 5TH FLOOR, NEW YORK NY 10036 |
Kathy P Vrabeck | officer: CHIEF STRATEGY OFFICER | 625 WESTPORT PARKWAY, GRAPEVINE TX 76051 |
Marc Suidan | officer: CHIEF FINANCIAL OFFICER | C/O THE BEACHBODY COMPANY, INC., 400 CONTINENTAL BLVD., SUITE 400, EL SEGUNDO CA 90245 |
Michael Heller | director | CIRA CENTRE, 2929 ARCH STREET, SUITE 675, PHILADELPHIA PA 19104-2867 |
Kristin E. Frank | director | C/O GAIAM, INC., 833 WEST SOUTH BOULDER ROAD, LOUISVILLE CO 80027 |
Blake Timothy Bilstad | officer: SEE REMARKS | C/O THE BEACHBODY COMPANY, INC., 3301 EXPOSITION BLVD., SANTA MONICA CA 90404 |
John S. Salter | director | ONE LOMBARD STREET, SUITE 300, SAN FRANCISCO CA 94111 |
Susan Collyns | officer: PRESIDENT & CFO | 6053 W CENTURY BLVD STE 1100, C/O CALIFORNIA PIZZA KITCHEN INC, LOS ANGLES CA 90045-6430 |
Rpiii Corp Spv Management Llc | 10 percent owner | 65 EAST 55TH STREET, 24TH FLOOR, NEW YORK NY 10022 |
Raine Management Llc | 10 percent owner | 65 EAST 55TH STREET, 24TH FLOOR, NEW YORK NY 10022 |
Rpiii Corp Aggregator Lp | 10 percent owner | ATTN: LEGAL DEPT., 65 EAST 55TH STREET, 24TH FLOOR, NEW YORK NY 10022 |
Rpiii Rainsanity Lp | 10 percent owner | ATTN: LEGAL DEPT., 65 EAST 55TH STREET, 24TH FLOOR, NEW YORK NY 10022 |
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